SASKATOON, SASKATCHEWAN--(Marketwire - June 7, 2012) - International Road Dynamics Inc. (IRD) (IRD.TO) announced today that its wholly-owned subsidiary, International Road Dynamics South Asia Pvt. Ltd. (IRDSA), has been awarded a major contract from Reliance Infrastructure Limited in India valued at approximately CDN $1.7 Million.
The contract award for the prestigious Gurgaon Faridabad expressway in the state of Haryana in India spans over 50 lanes across 4 toll plazas, and includes 12 lanes of electronic toll collection using radio frequency identification readers and transponders as well as 4 static weigh bridges in addition to reversible lanes on each plaza. IRDSA's solution will also include the provision of interoperability over the 4 toll plazas on this expressway.
"IRD is pleased to receive these toll management system contracts in India, and we are looking forward to extending our successful relationship with Reliance Infrastructure as we continue to deliver value to our customers. The contracts also further strengthen our existing toll base and service revenues, a key platform in our growth strategies," commented Mr. Terry Bergan, IRD's President and CEO.
IRD is a highway traffic management technology company specializing in supplying products and systems to the global Intelligent Transportation Systems (ITS) industry. IRD is a North American company based in Saskatoon, Saskatchewan Canada with sales and service offices throughout the United States and overseas. Private corporations, transportation agencies and highway authorities around the world use IRD's products and advanced systems to manage and protect their highway infrastructures.
The Company's shares trade on the Toronto Stock Exchange under the symbol IRD.